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Expert's opinion from FXFinPro

We forecast a drop of oil in the near future

Today in the capital of Qatar - Doha were held between talks Saudi Arabia, Qatar, Russia and Venezuela on the situation on the oil market. Investors were skeptical about the meeting due to the low probability of reaching a consensus between the countries. As a result, it was decided not to increase the volume of oil production, but speculations about a possible reduction in volume have not been confirmed. As a result, we expect a further deterioration of the situation with imbalances of supply and demand on the oil market due to increased supplies from Iran and maintain the medium-term negative outlook on Light Sweet crude oil with targets at 22 and 25 dollars per barrel.

More detailed analytics you can see at our site https://fxfinpro.com/en/analytics

 

Tuesday, 16 Feb, 2016 / 12:04

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